Couple buy their first home with only 5% deposit
The couple had talked about buying a home together, but thought they’d have to save for years until they discovered that a 95% mortgage via NewBuy could make their dreams of homeownership come true.
They’re now the proud owners of a three-bedroom Letchworth style home at Redrow’s Dibbin Brook development in Bromborough, Wirral – and the 5% deposit they had to find was a fraction of the sum they thought they’d have to stump up.
Jonathan says: “NewBuy enables people to buy a home more quickly and simply than they may realise. It really made a difference to us as we only needed a 5% deposit whereas most lenders wanted 25%. Without it we would still be renting and squirreling money away for a deposit on a home of our own.
“Our monthly mortgage repayments aren’t much more than the rent we were paying on a three-bedroom home in Bromborough and it’s an investment in our future.”
With the average first time buyer now well into their 30s, NewBuy has also helped radiographers Jonathan, 25, and Alaina, 23, to buck the trend.
“Making our first step onto the property ladder was a bit scary, but knowing it’s our own home is fantastic and buying with NewBuy was really simple. The Redrow sales consultant went through all the paperwork with us. The customer service was excellent,” Jonathan adds.
NewBuy is only available on new-build homes; the combination of this valuable help and Redrow’s high specification made choosing a brand new home over an older one an easy choice for the pair.
“We recognised that buying a new build home was a better option than an older second hand property because of the cost of bringing it up to the same standard,” Jonathan explained.
“The good thing about our new home is that the kitchen includes integrated appliances such as the oven, hob, microwave and fridge freezer so we didn’t have to find extra cash. We also have a modern bathroom, en-suite to the master bedroom and fitted wardrobes.
“It suits both what we need now and what we’ll need in the future when we start a family as there are two spare bedrooms.”
Dibbin Brook is now a well established community and with only four homes left to sell, time is running out for those who want to purchase one of the stylish properties.
The remaining homes offer a choice of three and four-bedroom designs from the sought-after New Heritage Collection. Prices start from £195,000, which means buyers may only need a deposit of around £10,000.
Tucked away off the A41, close to Port Sunlight village, Dibbin Brook enjoys easy access to Liverpool, Chester and Manchester by road or rail, and a wealth of local amenities nearby.
To be in with a chance of purchasing one of the final homes, visit the development, open Thursday to Monday from 10am to 5.30pm.
Details are also available online at www.redrow.co.uk/dibbin or by calling 0151 3545329.
NewBuy is available on all new Redrow homes in England up to £500,000.
An easy to follow video guide to NewBuy can be viewed at www.redrow.tv.
Redrow Homes is one of the UK’s leading house builders, operating across England and Wales, with a strong emphasis on high quality family housing in prime locations. Its New Heritage Collection of family homes combines traditional looking, ‘Arts & Crafts’ influenced exteriors with bright, modern, high specification interiors. Established more than 35 years, the company has won numerous awards over the years. Redrow received a 5* Award in the Home Builder Federation (HBF) annual customer satisfaction survey in 2011 and 2012; collected the Gold award in the Large Housebuilder category of the 2011 What House? awards; and its ‘Our Pride ~ Your Joy’ campaign was named best marketing initiative at the 2011Housebuilder Awards for innovation and excellence. Web: www.redrow.co.uk.